HANG TIME BIG CITY — Tom Thibodeau and Scott Layden are close to terms with with Minnesota Timberwolves to become the franchise’s new coach/president and general manager, respectively, according to a report from The Vertical’s Adrian Wojnarowski.

Sources: Minnesota is engaged in serious talks with Tom Thibodeau to become President of Basketball Ops and coach, with Scott Layden as GM.

The Timberwolves were coached last season by Sam Mitchell in an interim role, after coach and team president Flip Saunders passed away just before the season began following a battle with cancer. While the Timberwolves are flush with young talent, including 2014 Rookie of the Year Andrew Wiggins and this season’s presumptive Rookie of the Year Karl-Anthony Towns, they finished last season just 29-53.

Thibodeau previously coached in Chicago, where the Bulls were known for their defense-first attitude and hard-nosed style of play. In five seasons with the Bulls, Thibodeau compiled a 255-139 record. His teams went to the playoffs every season, making it as far as the Conference finals in 2011.

Thibodeau and Layden were both on staff with the New York Knicks in the late ’90s. Layden also spent time with the Utah Jazz front office, and most recently served in the front office of the San Antonio Spurs.